✨ Financial Transactions
10. Related Party Transactions
The following transactions occurred during the period with Related Parties:
| Distribution 2001 $ | Distribution 2000 $ | Retail 2001 $ | Retail 2000 $ | |
|---|---|---|---|---|
| Wanganui District Council (74.9% Shareholder): (C E Poynter, Mayor) | ||||
| Rent | $ 72,272 | $ 69,059 | $ 22,333 | $ 19,775 |
| Information Services Support | $ - | $ - | $ - | $ - |
| Plant hire | $ 7,260 | $ 5,156 | $ 978 | $ 1,476 |
| Rates | $ 5,301 | $ 569 | $ 5,192 | $ 415 |
| Total | $ 84,833 | $ 74,784 | $ 28,503 | $ 21,666 |
| Distribution 2001 $ | Distribution 2000 $ | Retail 2001 $ | Retail 2000 $ | |
|---|---|---|---|---|
| Natural Gas Corporation (25.1% Shareholder): (R J Bentley, Director & K M Baker, Chief Financial Officer) | ||||
| Gas Purchases & Transmission Services | $ - | $ - | $ 3,933,375 | $ 3,317,000 |
| Consultancy Fees | $ - | $ - | $ - | $ - |
| Other | $ 2,317 | $ 324 | $ 2,270 | $ 236 |
| Shares Purchased | $ - | $ 1,373 | $ - | $ 2,374 |
| Total | $ 2,317 | $ 1,697 | $ 3,935,645 | $ 3,319,610 |
| Treadwell Gordon & Co (G S Swan, consultant)
| Legal Advice | $ 3,290 | $ 4,932 | $ 2,351 | $ 8,925 |
Amounts Owed to Related Parties at Balance date were:
| Distribution $ | Retail $ | |
|---|---|---|
| Wanganui District Council | $ 12,748 | $ 5,866 |
| $ 4,283 | $ 1,700 | |
| Natural Gas Corporation | $ 267 | $ 183 |
| $ 453,643 | $ 357,125 | |
| Treadwell Gordon & Co | $ 828 | $ 655 |
| $ 592 | $ 1,185 |
All Transactions were conducted on normal commercial terms.
NGC Shares purchased following Rights Issue
11. Prescribed Business Relationships
Under Regulation 22 of the Gas (Information Disclosure) Regulations 1997 total costs and revenue must be disclosed for goods and services provided between entities in prescribed business relationships. 'Distribution' and 'Retail' fall within the Gas (Information Disclosure) Regulations 1997 definition of a prescribed business relationship (Regulation 3).
| 2001 $ | 2000 $ | |
|---|---|---|
| Distribution Revenue from Retail | ||
| Gas Distribution Tariffs * | $ 3,016,153 | $ 3,164,734 |
| Distribution Debtors from Retail | ||
| Wanganui Gas Ltd - Distribution * | $ 305,372 | $ 282,878 |
- Tariff represents revenue to Distribution for the transportation of gas through its distribution network. The value of transactions is calculated by applying current published Distribution tariffs to actual Retail throughput gas volumes and connection numbers. Transactions represent a book entry only. Debtor represents June revenue - assumed to be paid in the subsequent month.
Next Page →
Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2001, No 164
Gazette.govt.nz —
NZ Gazette 2001, No 164
✨ LLM interpretation of page content
🏭
Wanganui Gas Limited Related Party Transactions
(continued from previous page)
🏭 Trade, Customs & IndustryFinancial transactions, related parties, Wanganui District Council, Natural Gas Corporation, Treadwell Gordon & Co
- C E Poynter (Mayor), Mayor of Wanganui District Council
- R J Bentley (Director), Director of Natural Gas Corporation
- K M Baker (Chief Financial Officer), Chief Financial Officer of Natural Gas Corporation
- G S Swan (Consultant), Consultant at Treadwell Gordon & Co
🏭 Prescribed Business Relationships Disclosure
🏭 Trade, Customs & IndustryBusiness relationships, financial disclosure, gas distribution, retail